Developers

• Preparing accurate budgets
• Founding proposed bylaws
• Securing insurance cover
• Sourcing providers of maintenance services

Strata Management

Following the registration of your Strata Titled Company. Sherwood Strata Management have the expertise to assist you with optional management services:

• Registering for GST and an ABN (if applicable)
• Setting up a management system for the development
• Preparing Section 43(c) certificates and issuing within 24 hours of registration
• Organising the first annual general meeting including preparing the agenda
• Clarifying Strata management obligations to the first owners

Engaging an experienced strata manager to collaborate with your development team at the outset is the best way to ensure your strata scheme is well set up, making the sale of lots easier and keeping the whole scheme working as efficiently as possible into the future.

Contact us to arrange a consultation in the earliest planning stages of your Strata or Community development. Find out more about Sherwood Strata services that can save you both money and time.

We can help you navigate legal requirements and communication with first owners. You decide how much or how little involvement you would like. We look forward to hearing from you.

Common Strata Terms

• Form 28 – the standard Disclosure Form which must be provided to every buyer of every strata regardless of whether the Titles have issued or not.
• Form 29 – a general information sheet which forms part of the Disclosure Form.
• Strata Plan – this is the plan which shows the boundaries of the Strata Lot you are purchasing. The Strata Plan will also show the unit entitlements, any amendments of bylaws that are registered and any other encumbrances that may affect the Lots and/or Common Property.
• Built Strata – a Strata Plan which shows the dimensions of the building and land of the Strata Lots and any common property.
• Survey Strata – a Strata Plan which only shows the dimensions of the Strata Lots and any common property lot.
• Strata Lot – what you are buying. Depending on the notations on the Strata Plan the Lot could include the land, buildings, garden, courtyard and carport.
• Strata Scheme – All Strata complexes are known as Strata Schemes whether they are a duplex or a 100 unit development.
• Strata Company – all the owners of the Lots in the Strata Scheme form the Strata Company. The Strata Company comes into existence once the Strata Plan has been registered with the Landgate and Titles have issued. There is no need to register the Strata Company with the Australian Securities and Investment Commission (ASIC). The amount of income raised by levies will determine whether or not the Strata Company needs to be registered for GST.
• Unit entitlement – defines your share in the Common Property and is also used to determine your proportion of outgoings e.g. insurance, levies etc.
• Original Proprietor – the person who owned the land at the time when the strata scheme was built, they might also be known as the developer.
• Common property – land which is not readily identified as being a part of any Strata Lot on the Strata Plan. Common property is owned by the Strata Company i.e. the owners of the individual Strata Lots are the Strata Company and they each own a share in the common property as shown on the schedule of Unit entitlement. Some garden areas and driveways may be common property.
• Common property Lot – only shown on a Survey-Strata Plan and usually to indicate the driveway or a common facility lot such as a community centre.
• Strata Manager – usually a person experienced in managing Strata Companies that has been appointed by the owners of the Strata Scheme to manage the affairs and finances of the Strata Company.
• Section 43 Certificate – a Certificate submitted by the Buyer’s representative to the Strata Company or the Strata Company Manager to obtain levy and insurance information.
• Off the Plan purchase – where you sign an Offer and Acceptance Contract to purchase a Strata Lot prior to the building being completed.